The global fire sprinkler market was valued at $10,200.0 million in 2019, and is projected to reach $14,525.5 million by 2027, registering a CAGR of 6.5% from 2020 to 2027. Fire sprinklers come under the category of fire suppression systems. They help reduce greenhouse gas emissions from buildings during fire incidents. It also reduces the amount of water required for fire suppression as compared to traditional fire suppression devices as fire sprinklers are capable of detecting and controlling the spread of fire with minimal use of water. Fire sprinklers have become an essential part of fire safety infrastructure in residential and non-residential buildings. Fire sprinklers are extensively used in industries such as oil & gas, telecommunication, mining, energy & power, and data centres, where loss due to fire hazards is very high.
This surge in residential and non-residential construction activities is expected to result in the need for the safety of human life and its surroundings from fire hazards, which is expected to propel the growth of the fire sprinkler market during the forecast period. In addition, governments of different countries are implementing strict fire regulations to ensure safety and reduce casualty that arises from fire hazards.
For instance, in India fire sprinklers are compulsory for industrial buildings, commercial spaces, hospitals, hotels, and educational institutes as per part 4 of NBC (National Building Code). Further, a rise in awareness related to fire hazards is also expected to fuel the growth of the fire sprinkler market during the forecast period.
High installation cost, owing to the complex assembly of fire sprinklers is expected to hamper the market growth. In addition, raw materials used to manufacture fire sprinkler systems such as steel, aluminium, glass, and plastic are very sensitive to forces of demand and supply in the commodities market, which affects the profit margin of manufacturers. These factors are expected to restrain the growth of the fire sprinkler market during the forecast period. In addition, the design, installation, and maintenance of fire sprinkler systems require trained technicians and fire-safety specialists. Hence, the lack of skilled manpower is expected to hinder the growth of the fire sprinkler market during the forecast period.
Technological advancements in the fire safety industry such as smart heat sensors and IoT (Internet of Things) are anticipated to offer lucrative growth opportunities for new entrants in the market, which is expected to propel the growth of the fire sprinkler market during the forecast period.
The global fire sprinkler market is classified into type, component, technology, application, and region. Depending on the type, the market is segmented into products and services. The product segment is further classified into wet sprinkler systems, dry sprinkler systems, pre action sprinkler systems, and deluge sprinkler systems. The services segment is bifurcated into engineering services, installation & design, maintenance services, and inspection & managed services. By component, the market is bifurcated into a stop valve, alarm valve, fire sprinkler head, alarm test valve, and motorized alarm bell. By technology, it is bifurcated into active fire protection and passive fire protection. By application, it is divided into residential, commercial, and industrial.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global market in 2019, owing to growth in technical advancements in fire protection systems and an increase in infrastructure investments.
COMPETITION ANALYSIS
Key companies profiled in the report for the fire sprinkler market include AG Fire Sprinkler, American Fire Technologies, APi Group, GW Sprinkler A/S, Honeywell International Inc., Johnson Controls International Plc, Minimax GmbH & Co. KG, Robert Bosch GmbH, Siemens AG, and SIRON Fire Protection.
KEY BENEFITS FOR STAKEHOLDERS
- In-depth fire sprinkler market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2027.
- Extensive analysis is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global fire sprinkler market forecast analysis from 2020 to 2027 is included in the report.
- The key players within the fire sprinkler market are profiled in this report and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the fire sprinkler industry.
GLOBAL FIRE SPRINKLER MARKET SEGMENTS
By TYPE
- Products
- Services
By COMPONENT
- Stop Valve
- Alarm Valve
- Fire Sprinkler Head
- Alarm Test Valve
- Motorized Alarm Bell
By TECHNOLOGY
- Active Fire Protection
- Passive Fire Protection
By APPLICATION
- Residential
- Commercial
- Industrial
By REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Sweden
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
AG Fire Sprinkler
- American Fire Technologies
- APi Group
- GW Sprinkler A/S
- Honeywell International Inc.
- Johnson Controls International Plc
- Minimax GmbH & Co. KG
- Robert Bosch GmbH
- Siemens AG
- SIRON Fire Protection
Table of Contents
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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